This summary text is fully AI-generated and may therefore contain errors or be incomplete.
The price of Binance (BNB) coin has been on the rise recently, but it has encountered a barrier at $235 that has prevented further growth. Despite this setback, the long-term prediction for BNB remains bullish. The coin has faced resistance at $235 between October 23 and November 2, causing it to fall and find support above the $220 breakout level. If buyers are able to break through the $235 barrier, BNB could reach a high of $250. Currently, BNB is trading in a range between $220 and $235, with buyers attempting to extend the uptrend. However, if the $220 support is broken, the market could return to its previous range of $203 to $220. At the time of writing, BNB is trading at $231.70. On the lower time frame, BNB price bars have retraced above the moving lines, indicating strong buying at a lower price level. The moving average lines are running horizontally in different directions, suggesting that the sideways movement will continue. Key resistance levels for BNB are $300, $350, and $400, while important support levels are $200, $150, and $100. The next direction for BNB/USD is likely to be sideways, as the price remains between $220 and $235. As long as it stays above the moving average lines, there is a possibility for the price to rise and retest the resistance at $235. It is important to note that this analysis and forecast are the personal opinions of the author and should not be taken as a recommendation to buy or sell cryptocurrency. Readers should conduct their own research before making any investment decisions.